Reuters
By Aziz El Yaakoubi
Morocco’s trade deficit fell 20.4 percent to 104.03 billion Moroccan dirham ($10.79 billion) in the first eight months of 2015 compared with a year earlier, thanks to lower energy imports as oil prices fell, the foreign exchange regulator said.
The trade gap was down from 130.70 billion dirhams at the end of August 2014, as energy imports fell by 30 percent from a year earlier to 46.1 billion dirhams, data showed on Tuesday. Morocco is a net energy importer.
Wheat imports fell 27.8 percent as the local harvest hit a record high this year.
Total exports rose 6.6 percent from a year earlier to 142.45 billion dirhams, led by a 15 percent rise in auto exports and 18 percent hike in phosphate sales.
Tourism receipts dropped 2.5 percent, while remittances from the 4.5 million Moroccans living abroad rose 5.5 percent.
Foreign direct investment jumped 22.8 percent to 24.22 billion dirhams. Figures are in billions of dirhams:
Jan-Aug Jan-Aug Jan-July
2015 2014 2015 EXPORTS 142.45 133.62 126.71 IMPORTS 246.48 264.32 219.09 BALANCE -104.03 -130.70 -92.38 MIGRANT REMITTANCES 42.13 39.92 35.19 TOURISM RECEIPTS 39.84 40.87 30.32 FOREIGN DIRECT INVESTMENT 24.22 19.72 20.71
($1 = 9.6369 Moroccan dirham)
(Reporting By Aziz El Yaakoubi)
